MP lambasts FSA for bureaucracy and exacerbating underinsurance
Scathing criticism has been levelled at the Financial Services Authority over the high levels of bur...
Scathing criticism has been levelled at the Financial Services Authority over the high levels of bureaucracy being generated by its requirements to treat customers fairly.
The reproach was made by Lord Hunt of the Wirrall, with the backing of other MPs, at a recent All Party Parliamentary Group on Insurance and Financial Services meeting. Lord Hunt told David Strachan, FSA director of insurance, that the regulator's preoccupation with bureaucracy meant it was failing in one of its secondary
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